Reinsurance News
Greenlight Re
Hedge fund reinsurer model shows signs of promise, but challenges remain
1st August 2018
Hedge fund reinsurers Greenlight Capital Re and Third Point Re have now both reported their second-quarter and half-year 2018 financial results, which, continues to show divergent performance in a challenging marketplace. The business model of the hedge fund reinsurance entities, of which Greenlight Re and Third Point Re are the most ... Read the full article
Greenlight Re COO Michael Belfatti steps down
23rd July 2018
Greenlight Capital Re, the specialist hedge fund backed property and casualty (P&C) reinsurer, has announced that its Chief Operating Officer (COO), Michael Belfatti, will be stepping down from his role for personal reasons. Belfatti, who was appointed to the newly created position in August 2017, will depart the company as ... Read the full article
Greenlight Re addresses Sunesis Capital PFIC allegations
31st May 2018
Specialist hedge fund backed property and casualty (P&C) reinsurer Greenlight Re has addressed a recent report published by Sunesis Capital, which alleges that Greenlight Re should be classified as a passive foreign investment company (PFIC). The report claims that Greenlight Re, which is headquartered in the Cayman Islands, functions as a ... Read the full article
Hedge fund Re performance shows volatile, but potentially rewarding strategy
7th March 2018
The performance of hedge fund reinsurers continues to be impacted by the low interest rate environment and weak underwriting returns, and, the divergent performance of Third Point Re and Greenlight Re in 2017 underlines the volatility that exists when adopting a total-return strategy. Third Point Re delivered net income of $277.8 ... Read the full article
Greenlight Capital Re launches InsurTech innovation unit
6th March 2018
Specialist property and casualty reinsurer Greenlight Capital Re has launched Greenlight Re Innovations, a new unit set to be head up by Greenlight Re's Chief Operating Officer (COO), Michael Belfatti. The innovation unit's central mission will be to support commerce and personal health and welfare through technology and risk enterprises that ... Read the full article
Establishing a Lloyd’s Syndicate one strategy Greenlight Re is considering
22nd February 2018
Hedge fund backed reinsurer Greenlight Capital Re, Ltd. (Greenlight Re) is looking into the establishment of a Lloyd's of London Syndicate as it expands its business strategy and enters the specialty market. Speaking during the company's fourth-quarter 2017 earnings call, Chief Executive Officer (CEO), Simon Burton discussed continued portfolio repositioning at ... Read the full article
Investment returns highlight divergence in hedge fund reinsurer performance
16th November 2017
The performance of hedge fund backed reinsurers Third Point Re and Greenlight Re continues to diverge, while investment returns remain the driver of profitability for market participants that adopt a total-return strategy. Investment-oriented reinsurance companies, such as Third Point Re and Greenlight Re, seek to bolster poor underwriting returns by optimising ... Read the full article
Greenlight Capital Re appoints Michael Belfatti to COO
16th August 2017
Hedge fund backed specialist property and casualty reinsurer Greenlight Re today announced Michael Belfatti's appointment to the newly created position of Chief Operating Officer (COO), effective from September 1. As COO, Belfatti will oversee the firm's pricing, actuarial and risk management functions, and spearheading data collection, analytics and technology efforts across ... Read the full article
Greenlight Re maintains short position on Tesla
15th August 2017
Hedge fund style reinsurance company, Greenlight Capital Re (Greenlight Re), is to maintain its short position on Tesla despite this contributing to an almost $40 million net loss in Q2 2017, according to reports. In little over a year Tesla, which is led by Chief Executive Officer (CEO) Elon Musk, has seen ... Read the full article
Greenlight Re CEO signals entry into reinsurance subscription markets
2nd August 2017
Simon Burton, Greenlight Capital Re, Ltd.'s new Chief Executive Officer (CEO), has discussed upcoming changes to the firm's underwriting approach and appetite, highlighting plans to move into the transactional reinsurance subscription markets in London, Bermuda and the U.S. The new strategy is a first for the hedge-fund style reinsurance company, and ... Read the full article
Greenlight Re strengthens board with investment specialist
1st August 2017
Cayman Islands headquartered property and casualty reinsurance company Greenlight Re has added a ninth board member, bringing it additional investment expertise and experience. Greenlight Re is of course no newcomer to the investment world, being backed by hedge fund manager David Einhorn and his Greenlight Capital fund, but with investment returns ... Read the full article
Windhaven renews and expands reinsurance partnership with Greenlight Re
12th July 2017
Miami headquartered personal lines insurer, Windhaven Insurance, has announced the renewal and broadening of its relationship with Greenlight Re, via a $1.1 billion quota share transaction. Since 2011, Windhaven has worked with Cayman Island property and casualty reinsurer, Greenlight Re, with both firms benefitting from the financial and reinsurance partnership. Under the renewal, Greenlight ... Read the full article
Greenlight Capital Re names Simon Burton as its new CEO
2nd June 2017
Cayman Islands domiciled specialty reinsurer, Greenlight Capital Re, Ltd., has announced Simon Burton as its new Chief Executive Officer (CEO), effective July 1st, 2017. Burton succeeds Leonard Goldberg who is to step down as interim CEO but will remain on the firm's Board of Directors. The company has announced that Burton will also join ... Read the full article
Greenlight Re Ireland appoints Sean Rocks as consultant
3rd April 2017
Greenlight Re Ireland, subsidairy of Capital Re, has named former Chief Commercial Underwriting Officer of Liberty Specialty Markets, Sean Rocks, as newly appointed consultant. In his new role he’ll be working with recently appointed CEO Patrick O’Brien to develop the subsidairy’s European business strategy. Commenting on Rocks' appointment, O'Brien said; “Greenlight ... Read the full article
Greenlight Reinsurance Ireland appoints Patrick O’Brien as CEO
16th March 2017
Greenlight Capital Re’s subsidiary, Greenlight Reinsurance Ireland DAC, has announced Patrick O’Brien as new Chief Executive Officer. O’Brien has been promoted to CEO after joining Greenlight Re Ireland in June last year, acting as General Manager. Commenting on his promotion, O'Brien said Greenlight Re’s expertise in the US for innovative solutions and ... Read the full article
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